Business
EA Stocks: EA to go private in $55 billion buyout: Silver Lake, PIF, and Affinity Partners lead historic deal; ends 36-year public listing | Business – The Times of India
Electronic Arts (EA), the creator of globally popular video games including “Madden NFL,” “Battlefield,” and “The Sims,” is poised to exit public markets after agreeing to a $55 billion acquisition. The deal, one of the largest leveraged buyouts ever, will transfer EA into private ownership, giving the company room to restructure without the scrutiny of public investors.The transaction will see private equity firm Silver Lake Partners, Saudi Arabia’s sovereign wealth fund PIF, and Affinity Partners — led by Jared Kushner, President Donald Trump’s son-in-law — pay $210 per share to EA stockholders. This surpasses the $32 billion privatization of Texas utility TXU in 2007, AP reported.EA has been publicly traded for 36 years. Founded by former Apple employee William “Trip” Hawkins, the company went public seven years after its inception, closing its first trading day at a split-adjusted 52 cents per share. CEO Andrew Wilson has led the company since 2013.The buyout is part of a recent flurry of high-profile technology deals involving Silver Lake. The firm is also involved in a joint venture with Oracle to manage US operations of TikTok, though full details of that transaction remain undisclosed. Silver Lake has a history of taking major tech companies private, including Skype in 2009 for $1.9 billion and Dell in 2013 for $24.9 billion, which later returned to public markets in 2018.By going private, EA can reorient its operations without the pressure of meeting quarterly targets. The company’s revenues have remained steady over the past three fiscal years, fluctuating between $7.4 billion and $7.6 billion, even as its games maintain a loyal fan base.Competition in the gaming sector has intensified in recent years. Microsoft acquired rival Activision Blizzard for nearly $69 billion in 2023, and mobile gaming companies like Epic Games have expanded rapidly. Analysts suggest that privatization could allow EA to invest in innovation, streamline operations, and strengthen its market position.While privatizations often lead to layoffs, EA has not indicated any immediate workforce reductions. After trimming 5% of its staff in 2024, the company had 14,500 employees as of March 2025 and carried out further, limited layoffs in May.The acquisition is expected to provide EA the flexibility to restructure, enhance efficiency, and pursue long-term growth strategies without the constraints of public market expectations, potentially reshaping the competitive landscape of the global gaming industry.
 "Akasa Air Boosts Pets On Akasa Service With New Perks For Travellers")
New Delhi: Akasa Air has announced key enhancements to its popular pet travel service, ‘Pets on Akasa’, and now passengers can travel with two pets in the cabin, up from the previous limit of one, a release said. This upgraded service aims to offer more convenience and flexibility for pet owners, a release said. Since its launch in November 2022, Pets on Akasa has successfully transported over 8,500 pets nationwide.
The airline continues to act on customer feedback, as demonstrated by key policy enhancements introduced in May 2024. These include increasing the permissible weight for pets in the cabin to 10 kg and extending the validity of pet travel certificates to 15 days, further streamlining the travel experience for pet parents, it said. Pets on Akasa currently operates across 24 domestic cities, including Mumbai, Delhi, Bengaluru, Chennai, Kolkata, Hyderabad, and Lucknow.
This move stems from the airline’s customer-focused approach and adaptability to evolving passenger needs, the release said. Passengers flying with their pets on Akasa Air enjoy a range of complimentary value-added services, including a pre-booked window seat, priority check-in and baggage delivery, and Board First, ensuring an elevated flying experience. The airline has undertaken extensive research and provided specialised training for its customer care centre, airport staff, and in-flight teams, highlighting its commitment to delivering the highest standards of care, safety, and comfort throughout the journey.
Akasa Air has also partnered with Umeed for Animals Foundation, which is a Gurgaon-based non-profit animal rehabilitation organisation dedicated to rescuing and rehabilitating animals. The airline collaborates with the NGO to implement best practices across various processes and policies, continually enhancing pet comfort and safety.
The airline also provides additional perks to passengers and stated in the release that the booking window has been reduced to 24 hours before departure, down from 48 hours, allowing last-minute travellers to make arrangements more easily.
Akasa Air, serving over 21 million passengers, operates a modern fleet of 30 Boeing 737 MAX aircraft, with a total of 226 planes on order. The fleet is designed to reduce fuel consumption, cut carbon emissions, and provide a quieter, more comfortable cabin environment, the release added.
Theo Leggettbusiness correspondent and
Rachel Clunbusiness reporter
Getty ImagesJaguar Land Rover has said it will resume some production in the “coming days” after a cyber-attack forced the carmaker to suspend operations.
Work at its three UK facilities in the West Midlands and Merseyside were halted on 1 September after a cyber-attack the night before.
The BBC understands manufacturing will resume first at the engine facility in Wolverhampton on 6 October, and production at other plants will have a phased return.
A JLR spokesperson said: “Today we are informing colleagues, retailers and suppliers that some sections of our manufacturing operations will resume in the coming days.”
Industry sources said they expect it to still be several weeks before the production lines are running at full capacity.
In a note to JLR staff on Monday, the company said the “foundational work of our recovery programme is firmly underway”, and the phased restart was to ensure IT systems were brought back in a “safe and secure manner”.
Previously, the company had said it did not expect production to resume at its facilities until 1 October at the earliest.
The spokesperson said JLR was continuing work on its recovery following the shutdown.
“We continue to work around the clock alongside cybersecurity specialists, the UK government’s National Cyber Security Centre and law enforcement to ensure our restart is done in a safe and secure manner,” they said.
Phased restart
Companies in JLR’s supply chain, which has been under huge financial pressure as a result of the stoppage, have welcomed the news.
Many smaller companies in particular were thought to be at risk of bankruptcy.
About 30,000 people are directly employed at the company’s UK plants in Solihull, Wolverhampton and Halewood, and about 100,000 work for firms in the supply chain.
Some of these firms supply parts exclusively to JLR, while others sell components to other carmakers as well.
One supplier told the BBC the news that the restart was welcome and would provide some relief for businesses that rely on orders from JLR, but insisted that the losses already caused meant that financial assistance was still badly needed.
The supplier warned that vulnerable firms could not afford to take on more debt.
Over the weekend the government announced it would provide loan guarantees worth £1.5bn for JLR, with the stipulation that the supply chain would be supported.
Speaking at the Labour Party conference in Liverpool, Chancellor Rachel Reeves said the loan would “provide certainty” and “support for the jobs in its business and its supply chain”.
Sources within JLR itself have pointed out that the funding will be used to support suppliers with which it has a direct relationship, to ease cashflow and help pay for parts orders. It will be up to those businesses to pay their own suppliers.
The JLR spokesperson said the company thanked everyone connected to the manufacturer “for their continued patience, understanding and support.”
The spokesperson continued: “We know there is much more to do but the foundational work of our recovery is firmly underway, and we will continue to provide updates as we progress.”
JLR is one of several UK companies that have been hit in a spate of cyber-attacks this year.
Luxury department store Harrods was contacted by hackers this week after data related to 430,000 customer records was stolen in an IT breach.
That breach was separate to attempts to hack into separate Harrods systems earlier this year.
The group of Hackers that claimed responsibility for that attempt has also claimed responsibility for hacks on retailers M&S and Co-op, which have cost the companies hundreds of millions of pounds in lost sales.
 "Markets End Flat Ahead Of RBI Policy Outcome; Banking, Financial Services Stocks Rise")
New Delhi: The Indian stock market ended the session on a flat note on Monday. The domestic benchmark indices traded range-bound during the session amid a mixed approach by the investors ahead of the upcoming RBI monetary policy outcome.
Banking and financial services sectors saw buying, while metal and IT stocks dragged.
Sensex ended the session at 80,364.94, down 61.52 points or 0.08 per cent. The 30-share index started the session in green at 80,588.77 against last session’s closing of 80426.46. The index remained range-bound despite buying in the broader market. It hit the intra-day high and lows at 80,851.38 and 80,248.84, respectively.
Nifty closed at 24,634.90, down 19.80 points or 0.08 per cent.
“The Indian markets opened on a positive note, reflecting upbeat global cues, but traded in a volatile manner throughout the session. The benchmark Nifty oscillated within a narrow range of 24,800 to 24,600 (rounded levels) before settling near the day’s close,” according to analysts.
Market participants remained cautious ahead of the upcoming RBI monetary policy outcome, which is expected to be the next key trigger for direction, the notes added.
Axis Bank, Maruti Suzuki, Bharati Airtel, ICICI Bank, L&T, HCL Tech, Kotak Bank and PowerGrid were the top losers from the Sensex stocks. Titan, SBI, NTPC, Trent, Eternal, BEL, Mahindra and Mahindra, Tata Steel, HDFC Bank, Bajaj Finance, Sun Pharma, and Bajaj FinServ ended the session in green.
Sectoral indices traded with a mixed approach. Nifty Auto fell 48 points or 0.18 per cent, and Nifty IT ended the session flat. While Nifty FMCG jumped 98 points or 0.18 per cent, Nifty Bank escalated 71 points or 0.13 per cent, and Nifty Fin Services closed 21 points higher.
Broader markets followed suit as well. Nifty Midcap 100 jumped 154 points or 0.27 per cent, Nifty 100 moved up 27 points or 0.11 per cent, and Nifty Next 50 soared 690 points or 1.03 per cent. Nifty Small Cap 100 ended lower.
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